8
Headline Targets and Themes An Enterprising Area – adding:  1400 businesses p.a. to the area through improved business birth and survival rates  25,000 jobs through an increase in the employment rate from 76.8 to 80% Skills Increase the supply of high level skills Innovation A strong science and innovation sector Infrastructure Removing bottlenecks to development and growth Sustainable Economic Growth: An increase in GVA per head from 8% above the national average to 10% Strategic, cross cutting activity Advocacy, promotion, influence and alignment

10
Sets out vision and broad priorities for growth Based on widespread consultation and research around the needs and opportunities within the area around economic growth Action groups set up to engage businesses and others around the LEP’s activity Forms basis of EU Strategy and Strategic Economic Plan Enterprise M3 Strategy for Growth

11
Developing the Wider Strategic Economic Plan (1) Will align all funding streams and set out local flexibilities key for local growth Information drawn from various strategies (e.g. skills, information, visitor economy), local authority plans and investment plan for growth Other work following in housing, social inclusion and low carbon Timescales – 17/19th December: Submission of first draft – March: Final submission made for assessment – July: Growth deal offer to LEP’s – April 2015: Funding comes on stream?

15
£39m EU funds allocated to the area from 2014-2020 Strategy sets out needs, priorities and expected outcomes from this funding EU funding must be matched by domestic funding Timescales Final document in January 2014 Issue prospectus in Spring Funding from mid 2014? Enterprise M3 European Structural & Investment Fund Strategy

16
European Structural & Investment Fund Strategy Enterprise £9.6m Sustainable Infrastructure £4.6m Skills & Employment £16.6m Innovation £7.7m Composed of four strategic programmes: “To support start-Ups, SME growth and ensure a better co-ordinated business support offer” “Build on a rich history of innovation, extensive local infrastructure, and exploit the potential of science and technology industries” “A much better functioning learning market. Activities to prepare for the acceleration in employment From new & replacement demand with a shift towards higher skilled/technical occupations” “To ensure we use our existing transport infrastructure better and to develop and support efficient and low carbon measures and sustainable transport”

19
Conclusions Economic recovery gathering momentum….but particular risks around rebalancing the economy towards investment/exports Much happening in the sub-region and County – In better shape than many areas Key role of LEPs and EM3 doing well – Strong partnership approach between and within sectors – Focus on delivery – Significant resources being channelled EM3 likely to provide opportunities to make a real difference